iRhythm Technologies (NASDAQ:IRTC) CFO Sells $450,000.00 in Stock

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) CFO Daniel G. Wilson sold 3,000 shares of iRhythm Technologies stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $150.00, for a total transaction of $450,000.00. Following the sale, the chief financial officer now owns 40,307 shares of the company's stock, valued at approximately $6,046,050. The trade was a 6.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

iRhythm Technologies Stock Performance

IRTC stock opened at $154.71 on Friday. iRhythm Technologies has a 1 year low of $55.92 and a 1 year high of $154.93. The stock has a market capitalization of $4.94 billion, a price-to-earnings ratio of -49.27 and a beta of 1.40. The company has a debt-to-equity ratio of 7.47, a quick ratio of 5.58 and a current ratio of 5.71. The stock's fifty day moving average is $136.39 and its two-hundred day moving average is $114.07.

iRhythm Technologies (NASDAQ:IRTC - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported ($0.95) EPS for the quarter, missing analysts' consensus estimates of ($0.89) by ($0.06). The firm had revenue of $158.68 million during the quarter, compared to analyst estimates of $153.39 million. iRhythm Technologies had a negative return on equity of 101.04% and a negative net margin of 15.90%. The company's revenue for the quarter was up 20.3% on a year-over-year basis. During the same period in the prior year, the business posted ($1.23) EPS. On average, research analysts predict that iRhythm Technologies will post -1.98 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of IRTC. MCF Advisors LLC acquired a new position in shares of iRhythm Technologies during the first quarter worth approximately $25,000. AlphaQuest LLC bought a new position in iRhythm Technologies during the first quarter worth $30,000. Van ECK Associates Corp raised its stake in iRhythm Technologies by 41.3% during the 4th quarter. Van ECK Associates Corp now owns 554 shares of the company's stock valued at $50,000 after purchasing an additional 162 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new stake in iRhythm Technologies in the 1st quarter valued at $50,000. Finally, CWM LLC grew its position in iRhythm Technologies by 54.3% in the 1st quarter. CWM LLC now owns 517 shares of the company's stock worth $54,000 after purchasing an additional 182 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on IRTC. Morgan Stanley boosted their price target on iRhythm Technologies from $130.00 to $160.00 and gave the stock an "overweight" rating in a report on Wednesday, June 11th. Citigroup raised their price objective on shares of iRhythm Technologies from $130.00 to $167.00 and gave the stock a "buy" rating in a report on Thursday, May 22nd. Canaccord Genuity Group reduced their price target on shares of iRhythm Technologies from $152.00 to $139.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Needham & Company LLC boosted their price objective on iRhythm Technologies from $138.00 to $151.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Finally, Wells Fargo & Company upgraded iRhythm Technologies from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $104.00 to $130.00 in a research note on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, iRhythm Technologies has an average rating of "Moderate Buy" and a consensus target price of $138.60.

iRhythm Technologies Company Profile

iRhythm Technologies, Inc, a digital healthcare company, engages in the design, development, and commercialization of device-based technology to provide ambulatory cardiac monitoring services to diagnose arrhythmias in the United States. It offers Zio services, an ambulatory monitoring solution, including long-term and short-term continuous monitoring and mobile cardiac telemetry monitoring services.